Dent Moses

JUNE 25, 2025

On March 20, 2025, the IRS issued new FAQ’s as guidance to businesses understand how to properly report Employee Retention Credit (ERC) refunds on their income tax returns. This is especially important for companies that received ERC refunds but never amended their earlier tax returns, or for those whose claims were later denied.

tax return 52

tax return income tax payroll Tax 52

Withum

DECEMBER 4, 2024

Section 179 expensing, unlike bonus depreciation, can give rise to state income tax benefits. Cost segregation is recognized as an engineering-based tax study accepted by the IRS. years) to a shorter depreciable tax life (e.g., It is effective for tax years ending after September 8, 2023.

Tax 105

Tax income tax Construction Non-Profits 105

CPA Practice

JULY 7, 2025

Employee Benefits Tax TRP Provide a Revenue Procedure related to Section 305 of the SECURE 2.0 Act of 2022, as part of the Consolidated Appropriations Act, 2023, addressing the expansion of the Employee Plans Compliance Resolution System. Exempt Organizations Tax TRP Provide an update on the potential revisions to Rev.

cpas 86

cpas accounting and finance CPA Technology 86

Accounting Today

JUNE 19, 2025

Nixa, Missouri: Tax preparer Tina Louise Yager has pleaded guilty to making false and fictitious claims against the U.S. Yager used clients information to present false returns to the IRS from November 2023 through March of 2024, submitting returns in the name of her clients without their knowledge or approval. and to wire fraud.

Tax 69

Tax tax preparation Technology Real Estate 69

CPA Practice

JULY 14, 2025

Patrick Hickman, CPA , joined the firm in 2023 following a decade in public accounting with other firms. His areas of tax expertise include partnerships, including allocations, tax planning and structuring. She received her B.A. from the University of Findlay, and her M.B.A. from West Virginia University. He holds a B.S.

West Virginia 51

West Virginia Technology Pennsylvania accounting and finance 51

Accounting Today

JUNE 12, 2025

EDT 6 Min Read Facebook Twitter LinkedIn Email By any other name; poor Service; a saga continues; and other highlights of recent tax cases. Rockford, Illinois: Tax preparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns. He lied to the court, to the U.S.

Tax 84

Tax tax preparation audit Technology 84

Accounting Today

JUNE 5, 2025

.: CPA Timothy Trifilo has been sentenced to 20 months in prison for making a false statement on a mortgage loan application and for not filing an income tax return. For a decade, he did not file federal income tax returns nor pay taxes owed despite earning more than $7.7 Philadelphia: Tax preparer James J.

Tax 59

Tax tax preparation North Carolina tax return 59

Reckon

FEBRUARY 20, 2025

However, the new reporting scheme has left some NFPs uncertain of their status or tax obligations. Announced in 2021, the Australian government imposed the new self-reporting requirements to ensure that only eligible NFPs can access income tax exemption. This is a drastic change from how tax exemption was calculated for NFPs.

Non-Profits 52

Non-Profits income tax Tax Government 52

Withum

DECEMBER 11, 2024

Payroll tax offset: Beginning in 2016, qualified small businesses (defined as those with less than $5 million in gross receipts and those in their first 5 years of existence) can elect to use the R&D tax credit to offset their quarterly payroll taxes, which can provide a significant cash flow benefit.

E-commerce 52

E-commerce Tax payroll tax income tax 52

CPA Practice

JUNE 20, 2025

Federal prosecutors indicted Parker and co-defendants, Virginia Humphries of Pittsburgh and Marc Andrew Martin of Detroit, in June 2023. million in COVID-19 relief loans in Pennsylvania. million in COVID-19 relief loans in Pennsylvania. Officials said the Small Business Administration approved 226 of those applications.

Pennsylvania 73

Pennsylvania CPA Technology payroll 73

CPA Practice

JUNE 19, 2025

Launched in 2023, Pramata’s Partnership Program enables consulting firms and technology companies to elevate their contract management capabilities by embedding Pramata’s contract AI technology as a core foundation of their value added services.

Real Estate 52

Real Estate Technology payroll Healthcare 52

Menzies

JANUARY 23, 2025

HMRC may have written to you because they have reason to believe you have earned more than 1,000 income in the 2023/24 tax year (6 April 2023 to 5 April 2024) from making deliveries. If you have not received a letter from HMRC, but you have earned more than 1,000 in income, then you may still need to act now.

tax return 52

tax return chartered accountant Tax income tax 52

Going Concern

FEBRUARY 10, 2025

You’d think it paid a lot in taxes, right? Well it paid precisely $0 in federal income taxes last year. Sendil Palani replies : Professor, Respectfully, Tesla’s income taxes are not an example of fraud. Tesla complies with all tax regulations in all of the regions of the world in which we operate.

Indiana 52

Indiana Tax accounted Account 52

Accounting Today

JULY 10, 2025

In 2022 and 2023, he and others operated a ghost prep business in three Augusta locations, including a church and Browns residence. He fabricated income to qualify his clients for credits, claimed fake deductions to inflate refunds and charged clients a percentage fee of the refund. Brown had clients pay him a 10% fee of each refund.

Tax 75

Tax tax preparation income tax Technology 75

Accounting Today

JULY 15, 2025

"The bill said that you had to have the asset placed in service by 2027 but also you had to start construction on that facility within one year of the enactment date," said Ian Boccaccio, principal and income tax practice leader at tax firm Ryan. "If In 2023 you couldnt deduct 100%. 19, 2025."

Tax 65

Tax Construction Technology tax planning 65

Going Concern

OCTOBER 30, 2024

”) In early June 2023, the BDO partners received a calendar invite for a partnership call. BDO leadership said the conversion was purely for purposes of reducing partner income taxes and that there was no private equity or any related transaction on the table, further misleading Phan and the partnership.

Healthcare 79

Healthcare Expense Reimbursements income tax Virginia 79

SkagitCountyTaxServices

JULY 2, 2025

R&D expenses: Businesses can fully expense domestic R&D costs immediately (retroactive to 2022 for smaller businesses), potentially allowing amended returns to reclaim overpaid taxes. Employee benefits: Up to 25K in tip income and 12.5K Tips & Overtime Under the Senate version, up to 25K in tip income per person and 12.5K

income tax 53

income tax payroll payroll tax Tax 53

CPA Practice

JUNE 5, 2025

The IRS just released its annual “Data Book” providing vital information about the agency’s activities for its 2024 fiscal year (FY2024) spanning October 1, 2023, through September 30, 2024.

Tax 75

Tax income tax 75

CPA Practice

JUNE 26, 2025

Recognizing the growing complexity of multi-state filings, international compliance risks, and exemption certificate management, Therabody turned to Avalara to solve its urgent need for automation to replace manual tax processes.

Technology 75

Technology Tax South Dakota NetSuite 75

Accounting Today

JULY 10, 2025

between 2017 and 2023, according to an emailed statement. By Jeff Stimpson 5h ago Tax Smith+Howard starts new tax practices Smith + Howard, an Atlanta-based Top 100 Firm, has opened two new tax practices: Site Selection + Incentives and State and Local Income Tax Consulting. and Stenn International Ltd.

audit 58

audit Technology tax preparation accounting and finance 58

ThomsonReuters

DECEMBER 20, 2024

The process involves obtaining and regularly updating W-9 forms to ensure accurate records of vendors’ legal names and tax identification numbers. Starting with the tax year 2023, businesses are required to file information returns, such as Forms 1099-MISC and 1099-NEC, electronically if they are filing 10 or more returns in total.

Technology 52

Technology accounts payable accounting system financial accounting 52

Accounting Today

JULY 11, 2025

GEORGIA Shelly Carmichael Smith + Howard, Atlanta, launched two new tax practices: site selection + incentives, led by Shelly Carmichael, and state and local income tax consulting, led by Brandee Tilman. Read the full story.) ILLINOIS Jason Van de Loo was appointed CEO at Choreo, Chicago.

Oklahoma 71

Oklahoma Technology tax preparation audit 71

CPA Practice

JUNE 23, 2025

Werfel took over as commissioner on March 14, 2023; that term ends on Nov. an Arkansas-based oil and gas company, which Democrats said offered non-existent “tribal tax credits.” representative for Missouri’s 7th congressional district from 2011 to 2023. 20, the day of Donald Trump’s presidential inauguration.

Missouri 93

Missouri Mississippi Technology payroll 93

CPA Practice

JULY 4, 2025

drivers pay for an EV has ticked slightly lower in the IRA era, from $64,700 in January 2023 to $59,900 in April, a 7.4% In the most likely scenario, you end up about two years behind on adoption,” Buckberg said. ”I I think [EVs] will be more resilient than people are thinking.” The average price U.S.

Tax 91

Tax Technology payroll audit 91

RogerRossmeisl

APRIL 24, 2023

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. April 18 If you’re a calendar-year corporation, file a 2022 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due.

income tax 239

income tax Tax tax return CPA 239

RogerRossmeisl

AUGUST 6, 2023

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. July 31 Report income tax withholding and FICA taxes for second quarter 2023 (Form 941) and pay any tax due.

Tax 246

Tax income tax CPA business tax 246

RogerRossmeisl

NOVEMBER 13, 2022

Are you wondering how high inflation will affect your federal income tax bill for 2023? The IRS recently announced next year’s inflation-adjusted tax amounts for several provisions. A larger standard deduction will shelter more income from federal income tax next year.

Tax 235

Tax income tax CPA 235

TaxConnex

JANUARY 4, 2024

No year’s ever dull in sales tax, and the pace has only accelerated in the five years since the Supreme Court’s Wayfair decision. In 2023, familiar trends and new issues showed up across the states. As we start the new year, here’s a look back at some significant sales tax events from 2023. National sales tax H.R.25

Sales 264

Sales Tax Colorado South Dakota 264

Cherry Bekaert

FEBRUARY 12, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) issued final guidance concerning income tax disclosures, labeled Accounting Standards Update No. 2023-09 (ASU 2023-09). For businesses surpassing specified quantitative thresholds, further disaggregation by taxing jurisdictions may be required.

income tax 105

income tax Tax accounting standards financial statements 105

RogerRossmeisl

JULY 17, 2024

July 15 Employers should deposit Social Security, Medicare and withheld income taxes for June if the monthly deposit rule applies. They should also deposit non-payroll withheld income tax for June if the monthly deposit rule applies. See the exception below, under “August 12.”) If a calendar-year S corporation.

income tax 264

income tax Tax payroll CPA 264

Cherry Bekaert

FEBRUARY 27, 2024

On December 14, 2023, the Financial Accounting Standards Board (FASB) expanded income tax disclosure requirements for public and private companies. 2023-09 (ASU 2023-09) and increase transparency of a filer’s global taxes. The expanded disclosure requirements are detailed in Accounting Standards Update No.

income tax 98

income tax accounting standards Tax accounted 98

RogerRossmeisl

OCTOBER 29, 2023

According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% Be aware of the tax implications if you’re selling your home or you sold one in 2023. You may owe capital gains tax and net investment income tax (NIIT).

Tax 264

Tax income tax CPA Sales 264

Withum

APRIL 3, 2024

Guaranteed retirement income All earnings tax deferred during accumulation Deductions in excess of $300,000 depending on demographics A valuable employee benefit Typically exempt from creditors Can still be deducted in the 2023 tax years if the return is not filed… Who Are the Ideal Candidates?

income tax 98

income tax Tax tax return 98

CPA Practice

SEPTEMBER 14, 2023

Bloomberg Tax & Accounting released its 2024 Projected U.S. Tax Rates, which indicates inflation adjusted amounts in the tax code will increase 5.4% increase in 2023, it is nearly double the 2022 increase of 3%. See projected tax bracket tables below.] Bloomberg Tax’s annual Projected U.S.

income tax 120

income tax Tax accounting and finance tax planning 120

Withum

JUNE 12, 2024

S Corporation shareholders and partners in a partnership could see their effective federal income tax rate increase by 30% by the end of December 31, 2025, due to the expiration of certain tax laws. A dramatic increase to the effective tax rate may catch many pass-through entity businesses by surprise.

income tax 127

income tax Tax corporation tax Non-Profits 127

RogerRossmeisl

JULY 15, 2024

investors owned mutual funds in 2023. But despite their widespread use, the tax rules involved in selling mutual fund shares can be complex. As such, the maximum federal income tax rate will be 20%, and you may also owe the 3.8% net investment income tax. net investment income tax.

Tax 261

Tax income tax CPA 261

Cherry Bekaert

FEBRUARY 12, 2024

The Financial Accounting Standards Board (FASB) released final guidance regarding income tax disclosures on December 14, 2023. 2023-09 (ASU 2023-09) applies to all entities subject to income taxes and is intended to enhance the transparency and usefulness of income tax disclosures.

income tax 97

income tax Tax accounting standards financial statements 97